Oddo BHF - ELO (Auchan) : Coverage initiation

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Oddo BHF

Anne-Barbara Nicco

ELO (Auchan) : Coverage initiation

>The ELO group’s investment grade rating did not survive the deterioration of results in 2023, while 2024 looks set to be a year at high risk. - ELO’s rating has just been downgraded to speculative grade at BB+/stable, an event narrowly avoided by the group several times in the past. This time, the rating did not survive the decline in EBITDA (-16% over two years) and the rise in leverage (+0.8x over two years to 2.8x under IFRS 16) caused by the structural weakening ...

04/04/2024 1 EN

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Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Anne-Barbara Nicco

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ELO (Auchan) : Coverage initiation

Morning Crédit 21/05/2024

Credit Morning 05/21/2024

Arm Holdings plc : Arm remains the key vehicle to play the growing complexity of the architecture required for AI, including in smartphones

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